Electronic Arts (NASDAQ:EA) Sets New 52-Week High – Still a Buy?

Electronic Arts Inc. (NASDAQ:EA)’s stock price reached a new 52-week high on Monday . The company traded as high as $209.95 and last traded at $209.95, with a volume of 119778 shares trading hands. The stock had previously closed at $209.86.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup lifted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $201.42.

Electronic Arts Stock Performance

The business has a fifty day moving average of $205.03 and a 200 day moving average of $202.97. The company has a market cap of $52.98 billion, a P/E ratio of 60.15, a P/E/G ratio of 2.35 and a beta of 0.64. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In other news, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the sale, the chief financial officer owned 25,991 shares of the company’s stock, valued at $5,233,547.76. The trade was a 5.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the sale, the insider owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. The trade was a 4.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,206 shares of company stock worth $6,292,058 in the last quarter. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Electronic Arts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ascentis Independent Advisors bought a new position in shares of Electronic Arts during the 1st quarter valued at about $27,000. Torren Management LLC grew its holdings in shares of Electronic Arts by 235.0% in the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. MV Capital Management Inc. purchased a new stake in Electronic Arts during the fourth quarter valued at $28,000. Asset Planning Inc bought a new stake in shares of Electronic Arts in the 1st quarter worth about $32,000. Finally, Whipplewood Advisors LLC purchased a new position in Electronic Arts in the first quarter worth about $32,000. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.